Investors continued to dump the dollar, driving all of the major currencies higher in the process. Euro led the gains, rising to its strongest level in more than 2 months. Better than expected Eurozone PMI numbers created hope that the ECB could delay easing. In the forex market, currencies are driven by the latest turn of events and while the ECB talked rate cuts for the first time earlier this month, the most recent shift came from the Federal Reserve and the market was positioned the wrong way. The euro was deeply oversold and while some investors expected the Fed to be dovish, no one expected 8 members to flip ... (full story)